Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Xetra  >  Volkswagen    VOW3   DE0007664039

Mes dernières consult.
Most popular
News SummaryMost relevantAll newsSector newsTweets

VW: Evaluation of Porsche Brand Takeover Options Still Ongoing

share with twitter share with LinkedIn share with facebook
share via e-mail
06/09/2012 | 04:57pm CET

Volkswagen AG (>> Volkswagen AG) said Saturday the evaluation of possible options for an earlier takeover of Porsche Automobil Holding SE's (PAH3.XE) sportscar unit hasn't been finalized yet after a German media report suggested the auto makers identified a way to bypass a large tax payment and could push through the deal as early as August.

"The evaluation hasn't been finalized yet. As soon as we have the necessary clarity we'll inform about it in due course," Volkswagen said in a statement. The management of Volkswagen controls both Europe's largest auto maker by sales and Porsche's holding firm.

VW already owns a 49.9% stake in Porsche's core sportscar business and wants to take over the remaining 50.1% to reap more cost savings after the plan for a fully fledged merger including Porsche's holding firm had to be abandoned last year due to legal obstacles.

Porsche sold the 49.9% stake in its sports-car unit to Volkswagen in 2009 as part of a complex deal to forge a combined company after its attempt to take over its much larger rival backfired amid ballooning debt in the aftermath of the financial crisis.

At the time, Porsche and Volkswagen mutually granted each other options to transfer the remaining 50.1% stake to Volkswagen if the initial plan for a merger including Porsche's holding firm doesn't work out.

A key aspect of this alternative scenario, however, is a potential tax charge if Volkswagen and Porsche go ahead with the deal before mid-2014. Concluding the deal earlier would enable Volkswagen and Porsche to extract more cost savings faster.

Weekly Wirtschaftswoche reported earlier Saturday on its website that financial authorities in the German federal state of Baden-Wuerttemberg ruled that the deal won't trigger a tax payment of up to EUR1.5 billion if in addition to a purchase price of EUR4.5 billion Porsche's holding firm also receives one single voting share in VW. Baden-Wuerttemberg's finance ministry would view this scenario as a tax-free reorganization instead of an outright sale, according to the report. Baden-Wuerttemberg's finance ministry wasn't immediately available on Saturday.

Write to Christoph Rauwald at [email protected] and Philipp Grontzki at [email protected]

Stocks mentioned in the article : Volkswagen AG
share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on VOLKSWAGEN
12/15 Battery suppliers struggle to keep up with demand for Porsche's Panamera
12/15 SUCCESS AROUND THE WORLD : Record year for Volkswagen Motorsport
12/15 VOLKSWAGEN : deliveries grow 11.1 percent in November
12/15 VOLKSWAGEN : Truck & Bus launches its corporate website
12/15 Australia cobalt rush accelerates on electric vehicle demand, DRC troubles
12/14 VOLKSWAGEN : VW says some employees cooperated with Brazil's military regime
12/14 VOLKSWAGEN : VW says some employees cooperated with Brazil's military regime
12/14 VOLKSWAGEN : says some employees cooperated with Brazil's military regime
12/14 VOLKSWAGEN : comes to terms with its past in Brazil
12/14 PSA, Toyota lead European car sales gain, helped by extra selling day
More news
News from SeekingAlpha
12/15 Another Week, Another EV Battery Factory Announced In Hungary
12/12 Volkswagen brand posts big month
12/12 The Only Good Three Ideas From Barron's
12/12 Audi to keep Ducati brand
12/11 BMW Will Be The First To Go
Financials (€)
Sales 2017 231 B
EBIT 2017 16 000 M
Net income 2017 11 255 M
Debt 2017 22 841 M
Yield 2017 2,06%
P/E ratio 2017 7,58
P/E ratio 2018 6,54
EV / Sales 2017 0,47x
EV / Sales 2018 0,39x
Capitalization 84 790 M
Duration : Period :
Volkswagen Technical Analysis Chart | VOW3 | DE0007664039 | 4-Traders
Technical analysis trends VOLKSWAGEN
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 32
Average target price 183 €
Spread / Average Target 8,0%
EPS Revisions
Matthias Müller Chief Executive Officer
Hans Dieter Pötsch Chairman-Supervisory Board
Martin Hofmann Head-Group Information Technology
Peter Mosch Member-Supervisory Board
Bernd Osterloh Member-Supervisory Board
Sector and Competitors
1st jan.Capitalization (M$)
VOLKSWAGEN27.22%99 619
DAIMLER0.24%89 256
HONDA MOTOR CO LTD10.91%60 822